Citi says it’s “pleased to put the matter behind it”
Citigroup Global Markets has been fined almost £13 million for failing to meet the main City watchdog’s requirements for monitoring the bank’s London traders.
The Financial Conduct Authority found that measures in place at the bank to identify potential market abuse were not update in line with changes the regulator made to its rules in 2016 covering the monitoring of orders and trades. The FCA said there were “significant gaps” in “arrangements, systems, and procedures for additional trade surveillance”.
